It is clearly advantageous for most people who have businesses or itemize their personal deductions to pay as many deductible items as possible in the next couple of days. (Of course, check with a tax pro and not rely on some landlord you found on the internet before acting)

This could include property taxes, general bills due in the next 60 days, and state estimated income taxes. Perhaps if you have subscription based software etc., you could get a discount by switching to annual instead of monthly payments and move that payment into 2017. Same if you are on an installment plan with insurance let’s say.

We paid as much as we could and I’m feeling a bit broke today. Knowing so many others had to do the same, it got me to thinking.

My prediction is retail and things like autos and refrigerators are not going to sell well for at least the first quarter of 2018 as so much was spent by small business owners in the final two weeks of 2017.

If you are into the stocks and options, perhaps there is an opportunity to make some money, knowing that the economy will be depressed for a couple of months as people recover from the forced spend to move tax deductions into 2017. (But again, don’t take my advice as I am Just A Landlord)

Disclaimer

I am "just a landlord," NOT an attorney or accountant. If you need legal advice, tax advice or have appendicitis, don’t rely on something you read on the internet and do it yourself. Rather, hire a competent professional.